Virginia Considers Creating Own Currency

America is $14 trillion in debt. The secretive Federal Reserve System — a bastard-hybrid of privately-owned banks that act as America’s central bank with limited government supervision — secretly bailed out foreign banks for a mind-boggling $12.3 trillion. The much-anticipated demise of the dollar is given an extra push by last November’s announcement by China and Russia that they’ve abandoned the dollar and will use their own currencies for bilateral trade.

Now comes news that the state of Virginia is considering adopting its own currency.

A bill has been prefiled for the 2011 session of the Virginia state House with this title:

“Establishing a joint subcommittee to study whether the Commonwealth should adopt a currency to serve as an alternative to the currency distributed by the Federal Reserve System in the event of a major breakdown of the Federal Reserve System.“

After the first couple of introductory pages, the bill gets down to the real job at hand — a proposal for the state of Virginia to create its own currency:

“RESOLVED by the House of Delegates, the Senate concurring, That a joint subcommittee be appointed to study whether the Commonwealth should adopt a currency to serve as an alternative to the currency distributed by the Federal Reserve System in the event of a major breakdown of the Federal Reserve System.”